Allan Rolnick's (taxcoach) Blog

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Industry Observer - TriState Tax Resolution LLC
RECENT BLOG POSTS
  As we wrap up the year the last thing most people are thinking about is their taxes. But planning ahead can have a serious impact on your tax bill next year, especially if you know you’ll owe taxes. In this article, we’ll talk about some steps you must take if you know you’ll be owing taxes to...
12/06/2020
 In 1886, a chemist named John Pemberton concocted a sweet, carbonated "brain and nerve tonic" made with coca leaves and cola nuts. Six years later, he sold his recipe for $2,300 to the druggist Asa Candler, who spun it into multinational gold. While the current product has just half the caffeine...
11/30/2020
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 Here in our United States, our government is sliced and diced between Uncle Sam, 50 states, 3,141 counties, and 89,000-odd cities, towns, and villages. You would think that 244 years of independence, along with a dollop of Yankee ingenuity, would produce a crisp, streamlined system for paying fo...
11/23/2020
    Cross-border tax questions present some of the thorniest issues in tax. For example: when an American company like Apple takes components from 43 different countries, assembles them into an iPhone in China, and sells it in London or Paris, who gets the income tax on that profit? The day-to-d...
11/15/2020
  A hundred years ago, billionaires were a big big deal. Tycoons like John D. Rockefeller, worth the equivalent of two Jeff Bezoses in today's dollars, were celebrities, the overachieving substitutes for today's merely overexposed Kardashians and Tiger Kings. Today, though, CNBC reports there ar...
11/02/2020
 "If you are truly serious about preparing your child for the future, don't teach him to subtract — teach him to deduct." Fran LebowitzHere in the United States, we spend about $1.3 trillion on education, including early childhood programs, K-12th grade, the whole college-industrial complex, and ...
10/19/2020
    Falling behind on your debts is never a fun place to be. It’s less fun when a levy is placed on your assets. In this article, we take a look at what an IRS levy is, why it happens, and what you can do about it.Note: If you have any tax trouble or owe more than $10k to the IRS or state but ca...
10/12/2020
  The autumn leaves are changing, and “the most wonderful time of the year” is right around the corner… I’m guessing tax season isn’t exactly at the front of your mind. But it should be! (At least in the top five things at the front of your mind.) Because as long as you’re getting paid by someon...
10/07/2020
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  Thirty-five years ago, cartoonist Bill Watterson published the very first "Calvin and Hobbes" strip. Calvin, an irrepressible six-year-old who's surely destined for a therapist's couch or an orange jumpsuit (or both), tells his dad he's off to check his tiger trap: "I rigged a tuna fish sandwi...
10/05/2020
Even as a  tax professional, when I get a letter from the IRS addressed to my business (or, worse, to my home), I share with you that feeling of initial trepidation: what fresh hell will I now have to deal with? More often than not, it’s something completely innocuous, like an address change, or...
10/04/2020
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Allan Rolnick

Small Business Tax Strategist
local_phone718-841-7317
smartphone917-391-8467
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